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    8550 91st Ave Peoria, AZ 85345-8311
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    Property profile & analytics

    8550 91st Ave, Peoria, AZ 85345-8311

    View on Map
    • Office buildings
    • 29,382 SF
    • 20.45 lot acres
    Off-Market
    Last Sale Oct 15, 2021
    $50,477,000
    Property ID
    US07-1074322
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • HackJobs Performance / Auto Repair Shop
    • Phat-Teez / (Bike/Boat/Book/etc) Store / Printing Service
    • Cole and Bennett Modern Gift Baskets / (Bike/Boat/Book/etc) Store
    • Tre 5 Customs / (Bike/Boat/Book/etc) Store / Auto Parts Store
    • ArrowHead Custom Cabinets & Fine Woodwork / General Contractor / Renovation Specialist

    Property Details for 8550 91st Ave

    Year built
    2004
    Construction
    CONCRETE
    Lot size
    20.45 lot acres
    Zone code
    PI-1
    Property type
    Office buildings
    APN
    142-55-527
    APU
    14255527

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 15, 2021 $50,477,000 Pegasus West Valley North Owner LLC Pex Commerce Park LLC Special Warranty Deed —
    Apr 27, 2017 — Pex Commerce Park LLC — Grant Deed · related $11.6M · Miscellaneous Ins Co
    Dec 1, 2011 $12,064,000 Pex Commerce Park LLC Buttrum Peoria Crossings Comme Grant Deed —
    Mar 29, 2005 — Peoria Xings Commerce Buttrum Owner Name Unavailable Grant Deed · related —
    Nov 10, 2003 — Peoria Crossing Commer Buttrum Buttrum,roger & Erlene Quit Claim Deed · related $10k · First National Bank Arizona
    Feb 5, 2003 $1,851,510 Roger Buttrum Van Buren Assemblage Pip LP Grant Deed $1.7M · National Bank Arizona
    Feb 3, 1998 $2,575,000 Assemblage Pip Van Buren Arizona Land Associates LP Grant Deed —
    Apr 7, 1987 — Loop Outer — Deed Of Trust · related —

    Description

    Peoria Crossings Commerce Park offers exceptional warehouse and distribution space in Peoria. This Class B industrial property boasts a total of 241,280 square feet, with multiple units currently available, ranging from 2,470 to 4,940 square feet. The building features 20-foot ceilings, providing ample vertical storage capacity, and is equipped with 3-phase 120/208V power, ideal for various industrial operations. The property is zoned PI-1 by the City of Peoria, ensuring flexibility for a range of permitted uses. Currently, a small portion of the total space (2,470 square feet) is vacant, presenting an immediate opportunity for businesses seeking efficient and well-located warehouse solutions. The multiple tenancy structure allows for flexibility in space requirements, catering to both small and expanding businesses. This prime location offers easy access to major transportation routes, making it an ideal choice for distribution and logistics companies. The available space is ready for immediate occupancy, providing a seamless transition for businesses seeking to establish or expand their operations in Peoria. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.257
    Latitude
    33.5571
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $226,977
    $0.00
    $0.00
    $6,043,967
    -
    $7,991,000
    $28,639,100
    $36,630,100

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    Peoria, AZ 85345-8311
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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